The decision comes a week after the sports star made a public apology for his infidelities, reports The Sun.

Gatorade is the third major sponsor to drop Woods, following on from communications firm AT and T and consultants Accenture.

"We no longer see a role for Tiger in our marketing efforts and have ended our relationship," a Gatorade spokeswoman said. "We wish him all the best."

The spokeswoman, however, added that Gatorade's association with Tiger Woods Foundation will continue.

She gave no reasons for the termination of the contract.

"We have been in discussions with Gatorade, and while we are disappointed they have decided to not continue with Tiger in their marketing plans, we appreciate their continued involvement with Tiger through his foundation," Woods' agent, Mark Steinberg said. (ANI)